The Opportunity Zones program passed as part of the 2017 Tax Cut and Jobs Act (TJCA) in December, the federal program gives investors a tax break in exchange for investments in underserved communities.

Promulgated by Senator Tim Scott and Representative Pat Tiberi, the legislation heralded by TCJA promulgates a new and potentially unrecognized geographically-geared investment incentive program. The induction of Qualified Opportunity Zones appears in the new Section 1400Z of the Internal Revenue Code (IRC) of 1986, as amended (the Code). Due to the broad base of potential investors and eligible projects, property, and transactions, this program has the ability to provide substantial returns to investors, administrative opportunities for funds, and subsidy for eligible projects and businesses.